An initiative is the start of something, with the hope that it will continue. Government and business start initiatives all the time. You can also talk about initiative as a personal quality. A person with initiative is motivated to do things. If you take the initiative, you're willing to get things done on your own.
An individual's action that begins a process, often done without direct managerial influence. For example, an employee might take the initiative to come up with a new product or service that the company could offer.